Pearson New International Edition International pcl tp indd 1

FRONT OFFICE SEMANTICS
Deeded interest (time-share):
Ownership in perpetuity that can be sold or passed on to the owner’s heirs.
Leased interest (time-share):
Right limited to a length of time (e.g., 10 years); when the lease expires, own-
ership (access) expires.
Exchanging ownership on an occasional or more frequent basis can bring variety
and flexibility to vacation experience. Now that well-known hotel operators such as
Disney, Hilton, and Marriott offer time-share alternatives, the option to exchange
units is a major reason many people consider purchasing a time-share. Potential
advantages to time-share ownership include these:
•
Savings from not paying high guestroom rental rates for days the time-share
unit is used
•
Opportunity to trade time intervals with others through exchange programs
•
Potential for financial gain from the appreciation of real estate values (time-
share ownerships can be sold)
Guests who use resorts and time-shares do so primarily for pleasure and are
attracted to a specific property because of its location, reputation and property, and
local activities.